To provide a combination of capital growth and income primarily through investment in a portfolio of inflation-linked debt securities issued by governments, government agencies, supra-national and corporate issuers worldwide and financial derivative instruments (including total return swaps). Where the Fund uses total return swaps, the underlying consists of instruments in which the Fund may invest according to its Investment Objective. The Fund also has the flexibility to implement long and short active currency positions either via currency forwards or via the above instruments.

?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.

0.66%

Fund size

£945m (£725m last year)

FE Risk score

?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.

?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.

1.84

Beta

?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.

1.52

Sharpe

?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.

0.21

Volatility

?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.

5.38

Tracking error

?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.

3.61

Information ratio

?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.

0.76

R-Squared

?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.

0.62

Price movement

52 week high34.33

52 week low30.42

Current bid price32.87

Current offer price33.2

Current mid price-

Region

1

USA

41.55%

2

UK

26.32%

3

Japan

6.25%

4

France

5.99%

5

Italy

5.58%

6

Canada

4.33%

7

Australia

4.24%

8

Spain

2.43%

9

New Zealand

1.56%

Industry sector

1

Government Bonds

99.04%

2

Others

0.96%

Asset type

1

US Fixed Interest

41.55%

2

UK Fixed Interest

26.32%

3

Japanese Fixed Interest

6.25%

4

French Fixed Interest

5.99%

5

Italian Fixed Interest

5.58%

6

Canadian Fixed Interest

4.33%

7

Australian Fixed Interest

4.24%

8

Spanish Fixed Interest

2.43%

9

New Zealand Fixed Interest

1.56%

Individual holdings

1

UNITED STATES OF AMER TREAS NOTES 0.25% TB 15/01/25 USD1000

9.7%

2

UNITED STATES OF AMER TREAS NOTES 0.125% NTS 15/04/19 USD1000

5.77%

3

JAPAN GOVT CPI LINKED 0.1% BDS 10/09/23 JPY100000

5.28%

4

UNITED STATES OF AMER TREAS NOTES 0% NTS 15/01/23 USD1000

5.23%

5

UNITED STATES OF AMER TREAS BILLS 0.125% BDS 15/07/26 USD100

4.75%

6

AUSTRALIA(COMMONWEALTH OF) ILN 20/09/25(CONSUMER PRICE IDX)AUD1000

4.24%

7

TREASURY 0.125% IDX GILT 22/03/24 GBP0.01

3.84%

8

TREASURY 0.25% IDX LKD GILT 22/3/52 GBP0.01

3.69%

9

CANADA(GOVT OF) 4.25% IDX LKD BDS 1/12/2026 CAD1000

3.32%

Management

Fund manager group

Schroders

Fund manager company

Schroder Investmt Mgt(LUX)S.A.

Fund type

Offshore Fund

Fund objective

To provide a combination of capital growth and income primarily through investment in a portfolio of inflation-linked debt securities issued by governments, government agencies, supra-national and corporate issuers worldwide and financial derivative instruments (including total return swaps). Where the Fund uses total return swaps, the underlying consists of instruments in which the Fund may invest according to its Investment Objective. The Fund also has the flexibility to implement long and short active currency positions either via currency forwards or via the above instruments.

Paul joined Gartmore in 1999 and is responsible for managing our gilt portfolios. His career began with BZW Securities, selling a wide varity of fixed income products. Paul subsequently moved to BGI, where he was responsible for trading and managing their fixed income index funds. Paul graduated from Exeter University in 1995 with a BA in Economics and European Studies. He has passed level II of the CFA examination.

James Lindsay-Fynn

29/09/2010

Thomas Sartain

29/09/2010

Thomas Sartain is UK & European Money Market & Government Bond Fund Manager, based in London.He Joined Schroders in 2005 as fund manager’s assistant on the global fixed income desk. His Financial Markets career commenced in 2003 upon joining Royal Bank of Scotland. He has BA (Hons) degree in Management and Business Administration, University of Reading.

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.

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